MKT 421 Sample Final Exam 1

MKT 421 Sample Final Exam 1

1. A producer might use a “pulling policy” rather than a “pushing policy” if:

2. When new product ideas are chosen based on ratings and comments from customers, this process is called ______.

3. The primary purpose of branding is:

4. The company tries to follow an organized new-product development process—rather than using a faster and more spontaneous, “race-to-market” approach.

5. Genetech Corp. has invested heavily to develop a patented new product. Genetech wants to achieve a rapid return on its investment. It probably should set a ______________ pricing objective.

6. In the American Marketing Association’s Statement of Ethics, which ethical value stresses a firm’s attempts to balance the needs of its buyers with the interests of sellers?

7. David Oreck advertises Oreck vacuum cleaners via commercials that run on national radio programs. He encourages consumers to “…try my 8-pound Oreck vacuum for free for 30 days,” and to return it if they aren’t satisfied. He then provides an easy-to-remember toll-free telephone number that consumers can use to place orders. Regarding the AIDA model, the free-trial period and availability of a toll-free number are devices used mainly to:

8. Most firms in the business world set their prices using:

9. Compared with other approaches to business, the marketing concept is distinct in that it:

10. More than 600,000 loyal customers signed up in advance to purchase the iPhone4 in an Apple store the first day it was available for sale in the U.S. What type of response behavior were these Apple followers demonstrating?

11. In which quadrant of the SWOT analysis tool does the following fit? A firm is in a fast-growing industry.

12. A useful tool for organizing the competitor analysis is:

13. From the perspective of macro-marketing, e-commerce specialists CarFax (which provides vehicle history reports) and (a website offering auto comparison shopping) have emerged within the auto industry because:

14. Which of the following is true of direct distribution?

15. Behavioral targeting:

16. The main difference between a “marketing strategy” and a “marketing plan” is that:

17. When a company provides its advertising agency with a statement about a new product to use in designing an advertising campaign, and this statement includes a description of the target market, the product type, the primary benefits of using the product, and how this product is different from, and better than, competitive products, what type of statement is this?

18. Blending the firm’s promotion efforts to convey a complete and consistent message is the goal of:

19. In the 1990s, DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers. At which stage of the product life cycle is the DVD today?

20. According to the concept of social responsibility, a firm has a duty to:

21. The advantages of working with an intermediary usually increase when there is:

22. Clearwater Office Supply sells frequently purchased office supplies to businesses in a metropolitan area. It is a well-established company with a large share of the market. Its promotion should probably focus on:

23. The phrase “big data” refers to:

24. When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web surfer clicks on the advertiser’s ad and links to the advertiser’s website, this process is called a(n):

25. The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition as substitutes entered the market. This is an example of a(n) _____.

26. Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes aware of many TV ads for allergy products that she never noticed before. This illustrates:

27. The main difference between the “marketing department era” and the “marketing company era” is:

28. The three basic sales tasks are:

29. Marketers cannot assume that a product that meets consumer needs in one country will do so in another. This is because:

30. Because she frequently buys books at, Sophie Soleil set up an account and password at the website. Now, when she logs on and searches for a specific book, a note pops up at the center of her laptop screen saying: “Hello, Sophie, we have recommendations for you,” and proceeds to list other titles that Sophie might enjoy based on her previous purchases. Amazon can remember Sophie (and her previous purchases) because the online retailer uses:…

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